Operating result IRS.012/2011 November 09, 2011 To: Secretary - General The Office of Securities and Exchange Commission, Thailand Subject: Clarification of Operating result for Q3/2011 Master Ad Plc. is the Out of Home Media providing OHM Solutions to the market. Its financialperformances for Q3/2011 were as follows; With Separate Financial Statement, sales revenue was 118.70 MB, increasing by 35.76 MB or approximately equivalent to 43.12% more than compared to that of Q3/2010. Net income of Q3/2011 was 20.38 MB, increasing by 14.69 MB or 258.26% upper when compares to net income of Q3/2010. For Consolidated Financial Statement of Q3/2011, sales revenue was 165.84 MB, increasing by 47.86 MB or approximately equivalent to 40.57% more than compared to that of Q3/2010. Net income of Q3/2011 was 25.68 MB, increasing by 13.92 MB or 118.31% upper when compares to net income of Q3/2010 Cause operating results and financial statements and consolidated financial statements include the Q3/2011 has been increased. Overall, from the main media, especially the Billboard increase 21 % Street Furniture increase 7 % and made to order increase 8%. For Net Income. Overall, net income increased. Reflecting revenue growth. Including operation expense, in proportions very close to last year. Which expense shall include the provision for doubtful accounts is completed. Please be kindly informed accordingly. Yours sincerely, Noppadon Tansalarak Director Phiched Maneerattanaporn Director ______________________________________________________________________